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Both companies declined to offer details on the value of SocGen's cash injection, but an official said it would be "in the grand order of $100m (â‚¬64m)". Under the deal, SocGen's private bank, which is present in 25 countries, will cooperate with Rockefeller & Co to share areas of expertise and jointly serve their customers. Rockefeller Financial Services is the parent company of Rockefeller & Co.

Two SocGen executives will join the board of Rockefeller & Co, while James S. McDonald, Rockefeller & Co's chief executive and president, will become a member of the SocGen private banking executive committee.

SocGen private banking has about â‚¬71bn ($110bn) of assets under management worldwide. Rockefeller & Co and its subsidiaries have $29bn of assets under administration.

In a separate move, GE Money, the US lender, said it had closed the transaction to buy Polandâ€™s BPH Bank, once the countryâ€™s third largest but now barely making it into the top 10.

The US company paid about â‚¬625m for BPH and plans to invest an additional $50m this year, with a total of $150m to be invested over the next few years, Dmitri Stockton, president and chief executive of GE Money in central and eastern Europe, said. Polish regulators approved the sale of BPH this month, and the banks should merge next year.